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the wrong bit game. that is the only time that you have leverage. if you don't raise the debt ceiling right away, it's not defaulting on their loans. the treasury secretary can cut other spending. it is basically a government shutdown. republicans have lost that in the past. but i think unless there is something that the president has to lose, you don't have any leverage in the spending cuts. gerri: you know, the far left and far right will think that that -- well, the different analyses of what happened. they think will lives lost in the last debate what do you make of that? the republicans were in a much weaker bargaining position. what speaker boehner was doing anything that taxes went up at midnight on december 31. he actually got a tax cut compared where would've been. everybody else was going to get higher income taxes and they didn't. in this case from the president keeps more than what speaker boehner caved. the. gerri: you make a good point. i wanted to respond one more thing, which i found interesting. steve moore of "the wall street journal" said we had heard that i'm not going t
in the debt ceiling deal, right? >> yes. so we're going to have to resolve what was left untouched, which is the spending side. and hopefully there will be an agreement on long-term and medium-term reforms on the spending side. so that we can focus on other things. >> what about the federal reserve, that was also in the news, the fed releasing the minutes this week. there was word that a number of members of the fed wanted to stop this bond buying program, this so-called quantitative easing, at the end of this year. i mean, here we've got spending cuts, we've got uncertainties in the economy, and the one stimulus that everyone has been really looking forward to, the federal reserve stimulus, is now being threatened to come to an end this year. >> yes, so the market got worried, uh-oh, maybe the market is not as worried about qe as we thought. i think that's the wrong interpretation, maria. what we think is more likely is that certain members on the fomc are putting the market down. they are reminding others, including the politicians, that there are costs and risks involved in what the fe
to fix the problem. >> going forward on the debt ceiling, newt gingrich had it right on friday when said it was a dead loser for republicans to threaten to thank tank the united states economy by refusing to pay our own bills. this is not about future payments. this is about paying bills already due and owing. like we get up one morning and say we are not going to pay our mortgage. that is reckless and irresponse irresponsible. kind of the madman theory to negotiations. give us what we want is what republicans say or we will tank the united states economy. that is reckless and irresponsible and we won't do it. >> what it reckless is not addressing the problem and that is what we want to do. >> let's look at the way this may unfold. the president say if this is tied to the debt ceiling it is not a discussion i'm going to have. speaker boehner said we talked about raising the debt ceiling and we want an equal or greater offset in taxes or other cuts. equal or greater offset rather in spending cuts. mitch mcconnell. let's listen to what he said. >> now, that he has the tax rates he wants hi
is absolutely right when he says that using the debt ceiling as part of this fight would be an absolute catastrophe for the country. you know, people talk about hostage taking. who's the hostage here? the hostage here is the american economy. the hostage here are the american people. we're saying, if you don't give us what we want, we will risk wrecking the economy. that's bad substantively and dumb politics. and i noticed that mr. mcconnell did not answer your question, which made me wonder where he is on this. >> it's important to talk about what the debt ceiling really is. the debt ceiling is not the future. it's the past. it's allowing us to borrow money to pay for money we already borrowed. it's as if we spend money on our credit card and say at the end of the month i'm not going to pay it, and it wrecks your credit. it's not about future opportunity to borrow. it's spending already incurred. and if you look back at 2011, you can see the job numbers, the dip in the summer of 2011, when we went through that hostage taking. >> this is a matter of politics, carly, the reality is you h
, because right now i think the debt ceiling debate we are going to be having coming up in february is going to be even more rancorous than the one that we just that. republicans think they gave away taxation- > they are digging in their heels. > > and now they are going to get spending cuts, whereas the democrats are saying, "if you are going to get more spending cuts, you've got to give me more tax increases." so i think the end of february could be very interesting and very ugly for the markets. > the fiscal cliff of all mothers of fiscal cliff, or however you want to put it, it could be a lot worse. brent schutte from bmo harris. thanks so much. > > thank you. still ahead, the new year's top vacation destinations and deals. dominican republic, anyone? (woman) 3 days of walking to give a break cancer survivor a lifetime-- that's definitely a fair trade. whoo! you walk with friends, you meet new friends, and you keep those friendships. it was such a beautiful experience. (jessica lee) ♪ and it's beautiful ♪ undeniable (woman) why walk 60 miles in the boldest breast cancer event in hist
for caution. we don't expect much out of earning season. and then we're going to go right into the debt ceiling debate. >> when you say you don't expect much from earning season, what do you mean? do you think we'll see a flat showing? where's the strength and weakness? >> well, we think to some degree it's not going to be as relevant because the market is really looking forward here. we're looking out to the end of the year when we have housing, globally coordinated recovery. so this earning season to some degree is old news. we think the markets are going to be much more focused on the debt ceiling debate short-term and the good news we see down the road long-term. >> jack, you know, we all just went through that whole debate over the fiscal cliff. and now we're gearing up for another fight in washington. that over the debt ceiling. how rankerous will it be? >> it's remarkable how low volatility is right now. to me it would seem investors are complacent as if we just haven't done this just the other day. yeah. i see more and more problems. i see more volatility. more uncertainty. and,
area. tonight, her advice for president obama as the debt ceiling looms overhead. >>> a and the rain has moved on but now clearing skies leading to chilly temperatures around the bay area right now. already down to 34 degrees. the thing that will slow your morning commute, likely to be fog down to a quarter mile in spots. coming up in a forecast, both warm and cold for the bay area. the details coming up when we come right back. >>> another budget battle is shaping up in washington. this one over rizing the debt ceiling. republicans will not agree on taking on more debt without cuts on medicare, medicaid, and other social services. >> i think tax reform ought to be revenue neutral as it was back in the reagan years. we resolved that issue. with don't have this problem because we tax too little. we have it because we spend way, way too much. we settle the tax issue. the question is now can we address the single biggest threat to america's future. that's our excessive spending. >> some say this stand-up could be worse than the fiscal cliff fight. house minority leader nancy pelosi says
. >>> the administration's economic priority right now is the raising of the debt ceiling. u.s. has gotta lift it by the end of february or early march or else it will default on its fiscal obligations. this should be a routine exercise but republicans once again are threatening to hold the debt limit increase hostage in exchange for spending cuts which happened back in august of 2011 and standard & poors downgraded our credit rating at just the threat of default alone. as republicans call for a dollar for dollar match raising the debt ceiling versus spending cuts is very important that we remember this is an illogical demand. the debt ceiling has to do with paying off the bills that we've already incurred. we want to talk about future spending cuts and future deficit reduction. that's entirely separate conversation. in fact, democratic house leader nancy pelosi says the president should side step the fake fight altogether and vote the 14th amendment. we're back after the break. and invoke the 14th amendment. we're back after the break. now. (vo) she gets the comedians laughing and the thinker
at hole and that is the debt ceiling as we enter into this new year. tony, is that going to play a part, will that maybe prevent you from being more bullish in this environment because there is still so much uncertainty? >> you know what? i think politicians are starting to realize they can't play this jousting match they have been having with the last debt ceiling, the fiscal cliff which is behind us temporarily. so i think when they come to the table with a solution, the markets are going to rally just like they have in the past. i think they're going to come up with a solution but until there is a solution, until there is something, i think we'll see some volatility. but i really think they will come to the table with a good, solid solution. it will give republicans a chance to put their foot down on some of these, on some of this public spending. and it is going to be positive for the investor. ashley: bob, let me finish with you. you like emerging markets. people say that a but which market in particular are you particularly hot on right now? >> well, actually we think china is poi
got this fiscal crisis, we've got a debt ceiling discussion, we've got senator mcconnell saying, listen, we got to find ways to cut entitlements. isn't this smack in the middle of that debate when you're charging $300,000? >> well, we charge $295,000 because of really three things. one, the burden of illness of the condition you described, $200,000 to $600,000 a year is the cost for each one of these patients. we charge $295 because of the value that gattax brings. reducing the nutrition, 15% of patients getting off of nutrition altogether and improvement in the quality of life. and third, there's a premium associated with treating only 3,000 to 5,000 patients in the u.s. >> so the insurance companies would actually favor using your drug than doing what they're currently doing for these people. >> that's exactly right actually. 100% of the payers said that they would reimburse gattex. 76% of the physicians said that they will prescribe gattex independent from the cost. and about 100% of the patients said they will try gattex. >> let's go over when people talk about cutting medic
does that mean for the three major debates ahead? the battle over the debt ceiling, sequester, the continues budget resolution? >> that's to my point. right now all the committees of congress should be meeting. the people on agriculture should be saying what can we do to make cuts here and make some changes there? the defense appropriations committee should be meeting. the housing committee should be meeting. all the various appropriating and authorizing committees should be meeting. and be involved in this process instead of leaving it to the last minute to three people. you can't run a country that way. like i said, you can't run a business that way. if i spent as little time running my business as the congress does conducting its business, why, we would have been out of business a long time ago. >> minnesota congressman rick nolan. again, congratulations. and come back and see us again. thank you so much. >> thank you. delighted to be here. >>> that wraps up this hour of "jansing & co." >>> coming up next on the agenda, the political calculations of picking senator chuck ha
think he is talking about the sequester and debt ceiling and avoid whatever fiscal cliff is coming near us. thank you, john. appreciate it. >>> we bettered our position is little bit on the dow jones. we were off better than 80 pointses. s&p is off about and nasdaq down 10 1/3. "power lunch" is back in two minutes. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great northwest. he'll start investing early, he'll find some good people to help guide him, and he'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. it's just common sense. you know it can be hard to lbreathe, and how that feels.e, copd includes chronic bronchitis and emphysema. spiriva helps control my copd symptoms by keeping my airways open for 24 hours. plus, it reduces copd flare-ups. spiriva is the only once-daily inhaled copd maintenance treatment that does both. spiriva handihaler tiotropium bromide inhalation powder does not replace fast-act
. >> key democrats and say the debt ceiling and the tax cuts are unrelated. >> not going to say i'm not going to pay my bills unless you stop buying stuff. so stop buying stuff so you don't have future bills but right now we have to pea the bell for what we incur. i you want to tie it to what we do next, fine. >> the big part of the budget is getting people back to work. >> president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal leadership. >> what is really disappointing to me is that the president isn't generating a discussion on his own help has to be dragged kicking and screaming to the table when he have these other big issues like the debt ceiling to get him to talk about it. i wish he would lead. >> after nancy pelosi appeared on national tv it was off to her annual happy new year's celebration in san francisco. she was greeted with a roar of applause at the presidio. the meeting answers the delance si street foundation. considered the country's leading residential self-help organiz
be onboard with playing games with constantly raising the debt ceiling, do you? >> i don't think that we are are constantly raising it but i do believe and i agree with -- >> neil: well, we have done it 52 times in the post war period, right? >> we have done it but we always paid our debts and we don't quibble about paying debts. it is something that we know we have to do. we make them and we must pay them. >> neil: congress appropriates the funds and you can't come back later on and say we are not paying. i do see the wisdom of that. but i see it also in the power of congress to decide that and not nix the congress and trust a rather loose interpretation of an amendment put together in 1868 to force the issue. >> i think we can avoid that and we can avoid it if we create enough jobs for our people to be able to work, then, of course, they are paying as we go. >> neil: absolutely. you're right. this becomes a moot point if the economy picks up. but you you know what troubles me, congressman. you and i have chatted about, well, kind this of before. that we spend an enormous amount of time
the bills that have been incurred. don't tie it to the debt ceiling. >> reporter: a big part of balancing this budget is in fact, getting people back to work? >> that balances us twice and that another is big piece of it. >> reporter: president obama says he will not neglect can congress on whether they should pay their bills. some republicans are questioning his fiscal leadership. >> what is really disappointing to me is that the president isn't generating the discussion on his own and he has to sort of has to be dragged kicking and screaming to the table when we have big issues like the debt creeling to get him to talk about it. i wish he would lead. >> reporter: elizabeth corridan, ktvu channel 2 news. >>> house minority leadership nancy pelosi wants to see tax loopholes closed and subsidies end. >> we talk about subsidies for big oil and what is the justification to give an incentive to drill? so again, justify your existence, if you are a special tax break. >> massive federal spending cuts are due to hit march 1st, about the same time that the u.s. will hit the debt ceiling. >>>
, fine. but don't tie it to the debt ceiling." >> "a big part of balancing this budget is in fact getting people back to work. that balances us twice, so that's another big piece of it." >> reporter: president obama has said he will not negotiate with congress on whether they should pay their bills. some republicans are now criticizing his fiscal leadership. >> "what's really disappointing to me is that the president isn't generating the discussion on his own, that he has to sort of be dragged kicking and scream, to the table when we have these other big issues like the debt ceiling to get him to talk about it. i wish he'd lead." >> reporter: i'm elizabeth corridan, reporting. >> we started with showers but now, clear. as we go for it the night tonight it transition's over to clear conditions. transitioning again to cloudy conditions tonight. we have a weather system that is moving into the bay area. the rainfall will stay well to the north. clouds in the morning and sunshine for the afternoon we have some pretty nice systems. sunshine and warmer temperatures with low mid- 60s. here is th
of every dollar the federal government spends is borrowed. if you don't raise the debt ceiling, that 40 cents is temporarily stopped. now we did that in 1995. we didn't default on our debt. >> woodruff: right. the result was balanced budgets and some of the greatest fiscal responsibility was seen we've seen in modern times from congress because fiscal conservatives stood together and said we need to be responsible. >> woodruff: let me ask you about a couple of other issues. that is guns. you're a long-time proponent of gun rights. you're the father of two young girls ages 4 and 2. after those terrible shootings at that h elementary school in connecticut, have you changed your views at all on how available guns should be especially the high-capacity rifles? >> i think every parent was horrified at what happened in newtown connecticut. to see 20 young children and six adults senselessly murder in an elementary school, it's just shocking beyond words but i think it was also sad that within almost minutes of that tragedy politicians began exploiting that horrible crime to push their gun-con
: the president said on saturday that he will not compromise over raising the debt ceiling. won't even put that on the table. shannon bream with the news live in washington this afternoon. how you is this strategy work out for republicans, shannon? >> shannon: the president says if they refuse everyone from business owners to average americans will suffer but republicans are calling his bluff saying the debt ceiling gives them leverage that will force democrats to get serious about spending cuts and entitlement reform. here is house republican jim jordan. >> let's do it for a change instead of saying oh, give us more revenue and we promise we will cut spending later. give us more borrowing authority and let us run up the credit card more. we promise we will cut -- this is lucy and charlie brown on the football and the american people are saying we are not going to try to kick it this time. >> shannon: whether or not the president wants a debate the republicans say he will get one. >> shepard: what about the possibility of more tax increases. pelosi was suggesting that is on the table? >> s
raising the debt ceiling. we're live with that story coming up. jon: google chairman eric schmidt is in north korea right now despite the state department's misgivings over the timing of his trip. it comes just weeks after that controversial rocket launch. schmidt's delegation says he wants a first-hand look at social media and the economy in the communist nation. washington though is questioning his motives. greg palkot is live in our london bureau with more on that. so what does he say this trip is all about, greg? >> reporter: well, jon, schmidt is a newcomer when it comes to north korea but he is going with experienced hands, that is, traveling with him, the former new mexico governor bill richardson. he has been there several times. he dealt with political issues there he helped to get american nationals out. google chairman schmidt has the highest profile american businessman ever to go into north korea however. his obvious interests is in the role of the internet and how it shapes societies, even a place as secretive as north korea. here is at least what richardson is sayin
to close. >>> navigating the e next couple of months from the looming debt ceiling and problems in the middle east, the global watcher is with me to tell you what he thinks is the biggest risk to your money in 2012. stay with us later on. >>> but first notre dame and alabama set to kick it off at the national championship game tonight. both schools will rake in the cash. but the players won't see a dime of it. that could soon change, however. details when we come back. policewoman ake 70,0 trades a . ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. i had[ designer ]eeling enough of just covering up my moderate to severe plaque psoriasis. i decided enough is enough. ♪ [ spa lady ] i started enbrel. it's clinically proven to provide clearer skin. [ rv guy ] enbrel may not work for everyone -- and may not clear you completely, but for many, it gets skin clearer fast, within 2 months, and ke
the debt ceiling? you know, are we able to overcome this big crude oil build that everybody expects is going to happen this week. right now, it seems like the crude oil is driven higher by heating oil. cold temperatures in the northeast downgrading forecasts, driving up the heating oil. that's dragging up the crude oil, kicking and screaming right now. melissa: i feel like with iran, they sell more oil than we know or than what they tell us. there's so much sold under the radar, but, still, natural gas -- >> i think they are, yeah. melissa: yeah, more natural gas production than ever beforement we know that. is that impacting the market? >> it is, they were colder than normal. we had a good rally, and it's unusual to get a big picture report to move the market, but shortly after that report came out that said natural gas production was up that much, the market did sell off so it's amazing. i think people are realizing the impact of the record production on gas prices, and it's bringing them down now. melissa: thanks so much. >> thanks. melissa: going to cost you more, and by forever
. >> all right. why don't we talk about the fiscal cliff, and -- or i should say the debt ceiling once we got through the fiscal cliff. this is the next big issue that's roiling washington. how big of an impact does that have on the business community? >> i think it's huge. i think it's more important than the fiscal cliff. i think it would have been better that we went over the cliff than if we do not pay our debts. and i just shocked, dismayed, stunned that we did not have a grand bargain that included the debt ceiling increase. and i think it's a big failure of this process. and it sounds like they both sides now are digging in and we're going to get to a more serious crisis relative to the debt ceiling than the fiscal cliff was. >> yeah, you could talk about who won the last battle, who won, who lost, where things stand, but this is a real issue, and i think there are a lot of people who may not understand. if we don't deal with the debt ceiling, i mean, this is a situation where america's borrowing costs could rise for decades 20 come, correct? >> yes. and it just -- it makes us look
to be extremely critical to investor sentiment. we're dealing with a lot of head winds with the debt ceiling crisis and some of these other fiscal policies taking place, be it the health care regulations here in the u.s. i think investors are really going to be focusing on what companies are saying for 2013. >> and what are companies like to do with their spare cash? are we going to see more buybacks? >> that's a good question. i think buybacks is probably the trend of the times right now more than the m&a when companies had a lot of cash to spare. if you look at 2000, 1999 or maybe even 200 a, 2006, you were seeing m&a. now i think you're seeing more buybacks. that's a trend of the times, like you said. >> where is that going to leave the p/e ratios? >> the s&p right now is trading at 4.9 outs of forward multiple. you know, you can look at it as stocks being cheap right now. you can really make that argument. if you're saying that we've come out of the great recession and we're in that area where we're start to go rise in terms of our economic prowess, then you could say stocks are cheap. i
in this situation, talking about the debt ceiling and spending cuts. that was exactly the issue that caused the downgrading of the united states of america. that is at issue. the very same things that provoked that downgrade are on the table right now. and so it's hard for investors to forget the reaction to markets that we saw. it may not happen, but it does hearken back to that period. >> right. it's funny, there are a lot of questions still in terms of spending cuts. you have no idea how it spreads across the economy, whether you are a professor at a university expecting a $4 million grant from nasa for physics research. i have spoken to one of these people. and not sure whether you're going to get it. to, of course, the enormous expenditures to defense, that are still out there and question marks. granted, we do have a little more structure to the tax policy in this country for now, but we may be entering a debate of further tax reform dealing with deductions and the like and the spending cuts that many believe are also key to putting us on firm fiscal footing. >> right. >> earnings at
of intransigence. that the damage that came out, the the summer of 2011 with the debt ceil ceiling debate, the public didn't engage deeply with that policy debate was they sniffed out -- because they sniffed out very early on, they saw this was a purely symbolic debate. there really were no merits to why the debt ceiling should or shouldn't go up. it was being used as a political tool to make other political arguments. and people were very frustrated about that, and the republican party or took the brunt of the blame for that. nobody came out of that debt ceiling debate looking good. obama's ratings went down, but the republican party's ratings went down much further. and that was when we first really started to see a wider opening in the gap of for perceptions of the two political parties, the leaders of the two political parties. and the republican party has not overcome that image now, and they're going into a very similar debate from the public's perspective now playing at least to this point a very similar strategy. and it's probably, you know, not going to work terribly well for the
Search Results 0 to 28 of about 29 (some duplicates have been removed)